Thursday, April 7, 2022

Daily Market Report 4/7/22  The Initial Jobless Claims continued to drop, which is good news.  Last week, only 166k filed for first time benefits; and the previous week was revised lower (from 202k to 171k).  However, the Continued Claims rose last week to 1.523 million; and the previous had a very high revision (from 1.307 million to 1.506 million).  I typically do these reports earlier in the day, but today was a bit too busy; and I wanted to get this information out for you, so it was done after the Markets closed.  Stocks were in Mixed Territory and MBS were mainly in positive Territory throughout most of day until later after noon, when Stocks closed in Positive Territory and MBS in Negative Territory.  Investors were still contemplating the FOMC Minutes that were released yesterday, which came out very hawkish.  The sentiment shifted that the hawkish policy will help to reduce inflation and not hurt the economy, as much as they may have initially believed; so, investors dollars shifted from Bonds/Treasuries to Stocks.  MBS closed Down 5bps, so Mortgage Rates remained pretty much Unchanged from yesterday's pricing.  Yields jumped higher (to 2.67%).

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.

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